Want to create interactive content? It’s easy in Genially!
External Costs & Benefits quiz
King's InterHigh
Created on December 6, 2023
Start designing with a free template
Discover more than 1500 professional designs like these:
Transcript
Watch the video then press play to start the quiz
EXTERNAL COSTS & BENEFITS
QUIZ ABOUT
START
GOODLUCK!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
The owners of the business
People who work for the business
Events on the third of the month
People outside of the business
Some production activity results in costs that are incurred by third parties. What are third parties?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Business owners
Property owners
Local residents
Local residents
Which of the follow is not a third party?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
BENEFICIAL
SPILLOVER
CONSTRUCTIVE
POSITIVE
What is the missing word from this sentence? 'These external costs are the __________effects of production'.
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Beneficial extras
External benefits
External effects
Internal benefits
The consumption of certain goods can have positive spillover effects. What are these known as?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Education and climate change
Pollution and Education
Healthcare and traffic congestion
Healthcare and Education
Select from the following the two examples of external benefits
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
ENVIRONMENTAL
POLITICAL
ECONOMIC
SOCIAL
Complete this sentence about an example of an external benefit: 'If people are healthier they are able to work more effectively making contributions to ________ output and paying taxes'
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Public coss + public benefits
External benefits + external costs
Private costs + External costs
Private costs + private benefits
Social costs are costs to society as a whole of an economic activity. How are they calculated?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Internal benefits and external benefits
Private costs +Private Benefits
Private costs +private benefits
Private benefits + External benefits
Social benefits are the benefits to society as a whole of an economic activity. How are they calculated?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
Taxation
Changing employment laws
Raising interest rates
Lowering interest rates
What can be used to reduce external costs of production?
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
Lower tax
RIGHT!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
10
Concert tickets
Subsidies
Jobs
Governments can offer ____________ to firms to reduce external costs. This is when moneyis offered as an incentive.
WRONG!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
START OVER?
BACK
WELL DONE!
10 50.000 POINTS
9 25.600 POINTS
8 12.800 POINTS
7 6.400 POINTS
6 3.200 POINTS
5 1.600 POINTS
4 800 POINTS
3 400 POINTS
2 200 POINTS
1 100 POINTS
50.000 POINTS
YOU WIN!